Lifestyle Inflation is the Great Wealth Destroyer

Most people's lifestyle is connected to their income. Lifestyle inflation will slowly creep in on whatever income they have, making it nearly impossible to save and invest. AJ explains that your lifestyle shouldn't be based on your income at all but something else entirely.

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00:00 Introduction
00:56 Your home and your car should match your net-worth, not your income
02:12 Most people have almost no net-worth at all
02:56 Where is the median/avg person in their wealth journey?
05:11 Wealthy is not income, wealth is what you keep, not spend
07:28 50% ten year rule
09:22 AJ tells his story around this mentality
11:42 Conclusion